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07 February 2024 / Quick Take
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Copy LinkCustomers’ experience with a business is shaped by quality, price, value, service, and convenience. US consumers are currently most satisfied with product/service quality and least with the prices of goods and services—no surprise given persistent, although easing, inflation in recent years.
This is according to the 3,000 US consumers responding to our Consumer Confidence Survey®. They also express discontent with data privacy, customer service quality, and feeling valued as a customer—all features related to customer relationships and trust.
Companies need to differentiate their business and then engage customers. Businesses have a lot to gain from strengthening customer relationships and building trust—be it regarding pricing and inflation-driven price increases, data use (especially in this age of AI), or other aspects. Transparency, integrity, personal connections, and showing an understanding of customer needs and preferences can pay off, especially long term, with loyalty and customer lifetime value. These and the satisfaction features in the image below can serve as performance metrics for marketing and communications teams.
Head of Research, Marketing & Communications Cente…
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